Equities researchers at Deutsche Bank started coverage on shares of Okta (NASDAQ:OKTA) in a research note issued on Friday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other research analysts have also weighed in on the stock. KeyCorp reiterated a “buy” rating and issued a $35.00 price objective on shares of Okta in a research note on Friday, November 10th. SunTrust Banks started coverage on shares of Okta in a research note on Friday, October 27th. They issued a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research lowered shares of Okta from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Oppenheimer reiterated a “buy” rating and issued a $34.00 price objective on shares of Okta in a research note on Thursday, December 7th. Finally, BidaskClub raised shares of Okta from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Okta has a consensus rating of “Buy” and a consensus target price of $35.33.
Okta (NASDAQ OKTA) opened at $35.82 on Friday. Okta has a 12 month low of $21.52 and a 12 month high of $37.24.
In other Okta news, General Counsel Jonathan T. Runyan sold 9,375 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $25.22, for a total value of $236,437.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William E. Losch sold 20,400 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $30.04, for a total transaction of $612,816.00. Following the completion of the sale, the chief financial officer now directly owns 20,400 shares of the company’s stock, valued at $612,816. The disclosure for this sale can be found here. Insiders sold 668,435 shares of company stock valued at $18,068,121 over the last three months.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Okta during the 3rd quarter worth $128,000. Hershey Trust Co. bought a new stake in shares of Okta during the 4th quarter worth $195,000. Invictus RG bought a new stake in shares of Okta during the 3rd quarter worth $211,000. The Manufacturers Life Insurance Company bought a new stake in shares of Okta during the 2nd quarter worth $219,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Okta during the 4th quarter worth $239,000. 28.18% of the stock is owned by institutional investors.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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